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Incorporation of Offshore Corporations

October 19, 2014

By ptykamikaze

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The Panamanian anonymous societies are recognized as one excellent instrument of fiscal planning and used in the entire world. They Offer a lot of fiscal benefits, specially, when are used as offshore corporations. They are easy to operate and manage and in the same time offer versatility and safety, by its juridical nature. These corporations are also used commonly as the perfect instrument of safety for assets because they can serve as a holding company or can possess all kind of assets. A great advantage that our Law of Corporations offers is that they can be developed in broadly way and such activities that are not object of taxes in Panama, being that Panama uses a tributary system based in the principle of territoriality. The Panamanian Corporations serve as merchants, investors and inclusive to foreign companies as shareholder, to accomplish savings in the payment of taxes. An offshore corporation can open bank accounts and be owner of assets in a foreign country, without having to pay taxes in Panama for maintaining the assets in its name.

The corporations are elaborated with a general article and exceedingly wide, with a minimum suggested capital of US$10,000, divided in stocks to the bearer or nominative. The same have a nominee Board of Directors composed by three members of our firm (or by members choose by clients) and are widely empowered to exercise all type of businesses and commercial transactions allowed by the Panamanian laws even if said activities are not specifically indicated in the Articles of Incorporation; in this sense, our legislation is one of the most flexible in the world and thence from others, its great attractive level for worldwide business.

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